Midas Management Corp purchased a new stake in shares of AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, Holdings Channel reports. The fund purchased 13,500 shares of the company’s stock, valued at approximately $1,071,000.
Several other hedge funds have also bought and sold shares of the stock. Harding Loevner LP acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $98,720,000. Bank of Montreal Can acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $32,339,000. Acadian Asset Management LLC boosted its stake in AmerisourceBergen Corp. by 21.6% in the second quarter. Acadian Asset Management LLC now owns 1,341,181 shares of the company’s stock valued at $106,383,000 after buying an additional 238,198 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in AmerisourceBergen Corp. by 31.6% in the first quarter. UBS Asset Management Americas Inc. now owns 982,403 shares of the company’s stock valued at $85,027,000 after buying an additional 235,800 shares in the last quarter. Finally, CWM LLC acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $16,692,000. 66.15% of the stock is owned by institutional investors and hedge funds.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 0.06% on Monday, reaching $79.74. The company had a trading volume of 2,187,491 shares. AmerisourceBergen Corp. has a 52-week low of $73.31 and a 52-week high of $105.81. The company has a 50 day moving average price of $83.22 and a 200 day moving average price of $82.73. The stock has a market capitalization of $17.12 billion, a PE ratio of 10.76 and a beta of 0.75.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The business had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. During the same period in the prior year, the business posted $1.20 earnings per share. AmerisourceBergen Corp.’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that AmerisourceBergen Corp. will post $5.55 earnings per share for the current year.
Several equities analysts recently weighed in on the company. Avondale Partners raised AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $98.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, August 26th. Leerink Swann reaffirmed a “buy” rating and issued a $100.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, October 7th. Zacks Investment Research downgraded AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, FBR & Co raised their price objective on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the company a “mkt perform” rating in a research note on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $96.61.
In other AmerisourceBergen Corp. news, insider John G. Chou sold 63,750 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $85.70, for a total transaction of $5,463,375.00. Following the completion of the sale, the insider now directly owns 104,043 shares in the company, valued at $8,916,485.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total transaction of $275,117.10. Following the sale, the director now owns 10,901 shares of the company’s stock, valued at $894,972.10. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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